Selena is driving to visit her grandmother who lives 325 miles away from Selena home. she travels an average of 60 miles per hou
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Answer:
$37,500
Step-by-step explanation:
We have been given that a house worth $180,000 has a coinsurance clause of 75 percent. The owners insure the property for $101,250. They then have a loss that results in a $50,000 claim.
We will use loss settlement formula to solve our given problem.
Upon substituting our given values, we will get:
Therefore, they will receive $37,500 from insurance.